Common use of Monthly Debt Service Payment Clause in Contracts

Monthly Debt Service Payment. On the Closing Date, Borrower shall make a payment of interest only for the period commencing on and including the date of the funding of the Loan through and including September 30, 2020. Beginning on October 1, 2020 (the “First Payment Date”) and each subsequent Payment Date up to and including the Maturity Date, Borrower shall make a payment to Lender of principal (if any) and interest in an amount equal to the Monthly Debt Service Payment Amount, which payments shall be applied to accrued and unpaid interest.

Monthly Debt Service Payment. On the Closing Date, Borrower shall make a payment of interest only for the period commencing on and including the date of the funding of the Loan Closing Date through and including September 30April 5, 20202016. Beginning on October 1, 2020 (the “First Payment Date”) and On each subsequent Payment Date up to and including the Maturity Date, Borrower shall make a payment to Lender of interest and, if applicable, principal (if any) and interest in an amount equal to the Monthly Debt Service Payment Amount, which payments shall be applied first to accrued and unpaid interestinterest and, if applicable, the balance to principal.

Monthly Debt Service Payment. On the Closing Date, Borrower shall make a payment of interest only for the period commencing on and including the date of the funding of the Loan Closing Date through and including September 30January 5, 20202013. Beginning Interest only shall be payable in monthly installments beginning on October 1February 6, 2020 2013 (the “First Payment Date”) and continuing thereafter on each subsequent Payment Date up to and including the Maturity Date, Borrower shall make a payment to Lender of principal (if any) and interest in an amount equal to the Monthly Debt Service Payment Amount, which payments shall be applied to accrued and unpaid interest.

Monthly Debt Service Payment. On the Closing Date, Borrower shall make a payment of interest only for the period commencing on and including the date of the funding of the Loan Closing Date through and including September 30November 5, 20202015. Beginning on October 1On December 6, 2020 2015 (the “First Payment Date”) and on each subsequent Payment Date up to and including the Maturity Date, Borrower shall make a payment to Lender monthly in arrears of principal interest accruing on the Outstanding Principal Balance during the immediately preceding Interest Period (if any) and interest in an amount equal to the each such payment, a “Monthly Debt Service Payment AmountPayment”), which payments shall be applied to accrued and unpaid interest.

Monthly Debt Service Payment. On the Closing Date, Borrower shall make a payment of interest only (which shall be paid out of the Debt Service Reserve Funds) for the period commencing on and including the date of the funding of the Loan through and including September 30November 15, 20202021. Beginning on October 1December 15, 2020 2021 (the “First Payment Date”) and each subsequent Payment Date up to and including the Maturity Date, Borrower shall make a payment to Lender of principal (if any) and interest in an amount equal to the Monthly Debt Service Payment Amount, which payments shall be applied to accrued and unpaid interest.